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The Loan Process

Once you select Residential Mortgage Corp to obtain your home loan, you'll be amazed at how quickly and simply the loan process moves. Before you know it, you'll have a mortgage that suits your lifestyle and saves you money.

Throughout the loan-application process, we provide you with regular updates. You can also e-mail us with questions or new information. And if you want assistance, a mortgage expert who can answer questions is just a phone call away.

Here's an overview of the loan-application process

STEP ONE -- Working with Your Loan Officer

Your Residential Mortgage Corp loan officer has identified the best loan program to fit your needs. If you haven't found your home yet, your pre-qualification will assist you in determining how much house you can afford so you will be free to go shopping as a serious, qualified buyer. If you have already chosen your dream home, your loan officer will provide your agent an approval letter and will submit your contract and file to processing to immediately work toward your closing date.

STEP TWO -- Your Information Package

Your loan officer has given you copies of important documents and disclosures specific to your loan. Also included in this package is information that will explain what to expect, and when, during the process.

STEP THREE -- Processing Your Loan

Your loan file is being sent to our processing department. Your loan processor will contact you regarding any employment, income, assets and credit documentation required to complete your application. She will also order the appraisal, if needed, and any follow-up inspections which may be required. Our processing department works closely with you to assure a smooth process and will also communicate the status of your loan to your loan officer. Please feel free to call with any questions you may have.

STEP FOUR -- Closing Your Loan

Once your file is complete and has gone through the final underwriting and approval, your file will be sent to closing. Your real estate or closing agent should have contacted you to schedule your closing appointment. Once a HUD-1 Settlement Statement has been prepared by the closing agent, your loan officer will advise you of what certified funds, if any, you need to bring to closing. You have the right to review your documents one business day before closing. This is a good opportunity for you to prepare any questions you may have of the closing agent and help you feel confident when signing your documents.

STEP FIVE -- Congratulations!

You've closed your loan and now are ready to move in! Residential Mortgage Corp is committed to giving you superior service and we welcome the opportunity to help you with any future needs. You will receive a short survey asking about your experience with us. Please take a moment to fill it out and return it in the postage-paid envelope that will be provided. This helps us better determine that your needs have been met to your satisfaction. You will also receive a letter from your loan servicer advising you or your new loan information and toll-free contact info for them. Thank you for giving us this opportunity to serve you! Tell your friends about your loan officer and Residential Mortgage Corp. We would appreciate the referral!

2577 RAVENHILL DRIVE, Fayetteville, NC  28303
Direct:  (910) 483-1211
Fax:  (910) 483-9125
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